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IOB loan for TCS public offer

CHENNAI: Indian Overseas Bank is extending loan up to Rs.10 lakhs to individuals for subscribing to the TCS initial public offer. The bank has tied up with Karvy Securities and DSP Merrill Lynch for marketing the scheme. The application for the loan will be handled by select branches of the bank at specified centres. The loan can be availed up to 60 per cent of the bid amount at an attractive interest rate of 10 per cent annually which is repayable in a maximum of three months, says a bank release.

BAL has a leadership position in the premium segment of the motorbike market with the Pulsar DTSi twins and the company is looking to recapture the leadership position in the entry level segment as well.

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